Can shifting to another electricity supplier help you save money? Well, it undoubtedly can if you take advantage of the digital pavement. The key here is to find the many different suppliers in your state and then compare rates and prices.
There are many websites swear or vow to the comparative shopping for you. However, they might not list all of the available suppliers because they could only list the energy providers they represent. Fortunately, state-run websites have the full list.
Once you get that list, you can then use the following tips and steps to compare different energy providers in your state and decide.
Can You Switch Energy Companies?
First things first, before we discuss how to change energy providers, know if your state is deregulated. According to the ABACCUs report, there are nine US states that have high levels of shifting power companies in the residential category.
The following are the states included in the report:
- New York
Also, there are other states that are deregulated. However, these states may not have enough or sufficient competition to offer the best options. The following are some of the states listed by Allied Power Services as having deregulated energy:
- Rhode Island
- New Mexico
- New Jersey
With regards to gas services, the following states provide some better options:
- West Virginia
That said, at least fifty states have some better options for some kinds of energy. So, if you reside in a state included in the first list, then you are more likely to make the most out of this article. On the other hand, if your state belongs to the other lists, then changing energy companies may help you save money.
How to Switch Energy Companies
Now that you have an idea which states allows you to switch companies, then it is time to do the action. There are a few steps for switching energy companies. First, you need to compare rates.
If you are going to change provider, you need to ensure you are comparing rates. There are many websites, like www.eligoenergy.com, that provide many state comparison rates such as Ohio electricity rate, price and plan comparison.
Make sure to examine and study the entire contract. Take note that some energy companies will offer you a lower rate for a couple of months to make you switch. And then, raising the rates and prices once you are locked or committed into a contract.
The next step is to compare other services. Keep in mind that you can save by leveraging other possible services, too. That said, if you are interested in green energy, time of use discounts, and more, ensure to look at other potential services with the different energy companies in your state.
Next, ask your existing energy supplier for better rates. Remember, it is always worth the time and effort to ask your current supplier if it’ll offer you better rates or other deals before you change providers. Be sure to quote the deal you want to enroll with another provider and ask if they will match it.
Lastly, switch energy companies. If your current energy supplier can’t offer you a better deal, then it is time to shift companies. Most providers allow you to switch over the phone or online. Also, if you decide to switch, your service will not be interrupted.
When Can You Switch Without Penalty?
You can change energy suppliers without getting penalized near the end of your contract. If you’re in the last forty-nine days of a fixed contract, then your energy company won’t be able to charge you for switching.
Also, if you rent your home, you can change your energy provider without penalties. It is especially true if you are directly paying your gas and electricity bill to your energy provider. Another thing, you can switch energy companies if you have a smart meter. Second-generation meters will work on national infrastructure, allowing most energy companies to operate it.
Energy costs are a huge dilemma in modern-day living. It is a fact! That said, it is a relief when you know that you can save money from your energy bills by switching energy companies, provided that your state is deregulated. Aside from that, consider other saving tips.
You can opt to purchase a smart thermostat to keep your costs low. This device will monitor or oversee your usage patterns and optimize changes in cooling or heating. Also, keep your doors and windows closed so that heat can circulate better. What’s more, try to keep your home open and spacious enough, and clutter-free.